The Year 1973 From The People History

What happened in 1973 Major News Stories include Skylab Launched, Cod War UK and Iceland, Secretariat Wins Triple Crown on June 9th , Three-Day Week put in place in the UK, Sydney Opera House is opened, Yom Kippur War and Oil Embargo, Watergate Hearings Begin, Supreme Court rules on Roe v. Wade,

1973 Inflation has a significant impact on peoples lives around the world with the UK inflation rate running at 8.4% and the US running at 6.16% . This causes problems in every aspect of peoples lives from the price of Gas, Food and Bills , which in turn causes higher wages and the spiral continues, much of this is caused by the Arab members of the (OPEC) restricting the flow of oil to countries supporting Israel as part of the Yom Kippur War. And the start of a Recession in Europe causing increased unemployment and a 3 day week in the UK. Meanwhile in the US two important cases dominate the news with Roe v. Wade making abortion a US constitutional right on the 22nd January and the start of the Watergate hearings in the US Senate, and due to price increase of gas the Japanese car manufacturers with smaller engines and more efficient have an impact of the US car industry

Cost of Living 1973

How Much things cost in 1973 Yearly Inflation Rate USA 6.16% Yearly Inflation Rate UK8.4% Year End Close Dow Jones Industrial Average 850 Average Cost of new house $32,500.00 Average Income per year $12,900.00 Average Monthly Rent $175.00 Cost of a gallon of Gas 40 cents AMC Javelin car$2,900.00 A Dozen Eggs 45 centsBelow are some Prices for UK guides in Pounds Sterling Average House Price 9,942 Gallon of Petrol 0.35

What Events Happened in 1973

OPEC

Arab members of the Organization of Petroleum Exporting Countries (OPEC), announce they will restrict flow of crude oil to countries supporting Israel on October 17thcausing price of oil to increase by 200%

U.S.

Alaska Oil Pipeline bill is passed to allow construction of a pipeline to access oil from the North Slope of Alaska

OPEC

Recession begins in Europe following OPEC Oil price increases

U.S.

Roe v. Wade makes abortion a US constitutional right

European Union

Britain Ireland and Denmark join the EEC

Netherlands

The Netherlands holds a number of car free Sunday's during the oil crisis to conserve oil.

U.S.

Chrysler and other US car makers close a number of plants affecting 100,000 workers

Vietnam

US Troops withdrawn from Vietnam and U.S. involvement in Vietnam War ends with the signing of peace

U.S.

World Trade Center in New York becomes the tallest building in the world

Armed members of the American Indian Movement and their supporters seize the old town of Wounded Knee in South Dakota and hold for 2 months till May 8th when 120 armed members of the American Indian Movement and their supporters are arrested

Spain

Basque Terrorists Kill Spanish Prime Minister

Turkey

The Bosporus Bridge is completed joining Europe and Asia in Istanbul

Greece

Following student rioting Marshal Law is imposed

Chili

Military coup in Chili led by General Augusto Pinochet.

Israel

Israel Shoots Down Libyan Passenger Plane

U.S.

In a Tennis Match billed as the battle of the sexes Mrs Billy Jean King defeats Bobby Riggs

TUC brings 1.5 Million on Strike in UK as Day Of Protest at pay restraint policy

UK

Princess Anne, marries Captain Mark Phillips in Westminster Abbey

UK

In the UK, as a result of high coal and oil prices, the Three-Day Week officially comes into force.

Belize

Belize Gains Independence From Great Britain

Northern Ireland

A referendum in Northern Ireland results in a vote to stay as part of the United Kingdom

U.S.

Secretariat Wins Triple Crown first winner for 25 years

U.S.

The wide ranging Endangered Species Act of 1973 is signed into law to "protect species and the ecosystems upon which they depend."

Bahamas

The Bahamas Gains Independence From Great Britain

Iceland

Royal Navy Protect Trawlers in Cod War In Icelandic Waters

U.S.

The Mississippi River reaches its peak level in St. Louis during a record 77-day flood.

Technology

Skylab, the United States' first space station, is launched

Concorde cuts flying time across the Atlantic in half flying at average speed of 954 mph

The Sears Tower opens in Chicago

Inventions Invented by Inventors and Country ( or attributed to First Use )Genetic Engineering USA by S Cohen and H Boyer Barcode USA Optical Fiber USA Space Station USA Skylab Jetski or Personal Watercraft USA Clayton Jacobson II ( Original was only stand up and difficult to stay on ) manufactured by Kawasaki